The size of the Fitness Trackers Market in North America is estimated to grow at a CAGR of 17.6% from 2022 to 2027.
Increasing incidences of cardiovascular and chronic diseases is undoubtedly a significant factor driving the demand of the market. These devices are very accurate in measuring various fitness-related body activities like heart rate monitoring, counting the number of steps taken, and sleep duration, among others, is accelerating the demand of the North America fitness trackers market. Growing awareness towards the internet of things and the rising utilization of smartphones and laptops are escalating the market's need. Expenditure on healthcare is rising day by day. An increasing concentration of health among many individuals is tremendously leveling up the growth rate of the fitness trackers market in North America.
However, devices with advanced features cost high, where ordinary people cannot afford them, which is slowly hampering the market's growth rate. Rising in privacy concerns and increasing risk in data connection with the other devices is challenging for the market developers. The shortage of skilled people in manufacturing the latest designs is impeding the growth rate of the market. Frequent changes in software technology are also restricting the demand for the fitness trackers market in North America.
Growing focus on developing new products in branded companies with the latest technologies is anticipated to create growth opportunities for the market. Increasing the popularity of the devices through digital advertisements is also one-factor impacting positive growth on the market in North America. Due to its prominent features, physicians are also highly recommending these devices to monitor patient conditions continuously. This attribute is to magnify the demand of the market in the future. As these devices can connect easily to smartphones and laptops with different applications, it is significantly influencing the market's growth rate. Furthermore, increasing disposable income in both developed and developing countries is lavishing the demand of the fitness trackers market in North America.
This research report has been segmented & sub-segmented into the following categories:
In the North America region, the USA is holding the most significant market shares by increasing capita income in urban areas. Also, rising awareness over the utilization of various fitness trackers devices is lavishing the market demand in this country. Following the USA, Canada is leading with significant shares of the market with the emergence of the latest technology and various devices with advanced features. Increasing consumer preference towards fitness trackers, which are similar to smartwatches, is anticipated to create growth opportunities for this country's market. Mexico and the rest of North America are expected to have the fastest growth rate in the coming years. Rise in the concern towards health and focus on knowing several calories burnt during exercises are propelling the market's demand. Wireless technology is also an advantage for the fitness trackers market to grow tremendously in these countries.
The U.S. Fitness Trackers Market is expected to hold the maximum shares in the North American market from 2020 to 2025 due to the increasing per capita income, rising awareness in using different fitness trackers, increasing discretionary income of consumers and consistency with a wide range of operating systems are driving the market growth in this region.
The Canadian fitness trackers market is expected to stand as the second-largest country in the North American market. Factors such as the appearance of the latest technology, approval, and launch of various product devices with advanced features drive the market in this country. Growing concern towards health and concentrating burning calories during workouts fosters the growth in the North American region.
Companies dominating the North American Fitness Trackers Market profiled in this report are Fitbit, Inc., Apple Inc., Adidas AG, Xiaomi Inc., Samsung Electronics Co. Ltd., Nike Inc., Moov Inc., Lumo Bodytech Inc., and Jawbone.
North America Fitness Trackers Market
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